Tuesday, February 2, 2016

Northwest Bancshares: A Savings and Loan Bank Holding Company

Northwest Bancshares is one of the holding companies in the United States that operates a subsidiary that has been around for more than a century. The company, which was incorporated in September 2009 is the parent company of a savings and loan bank, the Northwest Savings Bank. Its corporate office is located in Warren, Pennsylvania.

The operations of the business are divided into two reporting segments, namely Consumer Finance and Community Banking. The Consumer Finance unit is represented by Northwest Consumer Discount Company, which is a subsidiary of Northwest Bank. This affiliate continues to offer a wide range of personal installment loans that are tailored for a range of consumer and real estate products. This subsidiary is based in Pennsylvania and currently has more than 50 offices in operation. The Community Banking segment of the company is represented by the bank, which has more than 180 branch locations across 4 states.

The bank offers a wide range of products and services, which include checking, online banking, online bill payment, ATMs, wealth management, loans, cash management services and several others. The bank is more than 119 years old now and operates as a trusted partner in building dreams, reaching financial independence and in preparing for the future. Northwest Savings Bank has made it their commitment to deliver their services with the customer as their focal point. For years, it has become a part of the success of Americans and in building the American dream.

As of December 2014, the bank has reported their deposits to be more than $5 million. To supplement its pooled deposits, the company has access to the Federal Home Loan Banks for quick borrowings for their lending activities. Northwest Bancshares operates as a publicly traded company on the NASDAQ, using the symbol NWBI.

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